Augur bounced off the 527.2% Fibonacci applied to the corrective wave after btc 0.0044 support breakout. The current support is based at btc 0.0021 as after rejection price moved higher, broke above the downtrend trendline and 200 Moving Average on 8h timeframe.
Higher highs and higher lows pattern can be seen while REP/BTC also broke above the btc 0.0033 resistance. Now this level becomes the support and potential demand price for Augur.
The nearest upside target could be 61.8% Fibonacci retracement at btc 0.0058, which corresponds with the upper trendline of the descending channel. This target could be reached within a very short period of time as REP/BTC volume continues to increase. Only a daily close below btc 0.002 will invalidate bullish outlook.
Higher highs and higher lows pattern can be seen while REP/BTC also broke above the btc 0.0033 resistance. Now this level becomes the support and potential demand price for Augur.
The nearest upside target could be 61.8% Fibonacci retracement at btc 0.0058, which corresponds with the upper trendline of the descending channel. This target could be reached within a very short period of time as REP/BTC volume continues to increase. Only a daily close below btc 0.002 will invalidate bullish outlook.
Trade closed: target reached